Welcome to the Tax Blog

News, information, and opinions about:

  • Federal, State, and Virginia Beach Taxes
  • The Tax Preparation Business
  • Tax Planning

If you have a question or comment, please drop me a line. Paul @ PIM Tax.

30 December 2015

virginia beach tax preparation new years resolutionIt is Resolution Season, that magical time when we pick something we want to accomplish in the coming year and take a solemn vow to make it happen. Solemn being in the eye of the beholder, of course. Most of our pasts are littered with abandoned resolutions.

Tade has actually been keeping a record of our New Year's resolutions for the past couple of decades. She has a small book for just that purpose. She breaks it out somewhere between December 27 and January 2 and we review resolutions from previous years. Then we make this year's resolutions and she dutifully records them for posterity.

Like many Americans, most of my previous resolutions have had something to do with becoming healthier and taking better care of myself. Sometimes my resolutions are general - I will exercise more. Sometimes they are specific - I will go to the gym 3 times per week this year. Usually they are abandoned by February, which is why I must make the same resolutions over and over again.

Looking back, the years where I did best at sticking to my physical fitness resolutions were the years I had someone to workout with. Someone who knew, or even shared, my fitness goals. Someone who knew things about fitness I did not know, and we could discuss techniques. Someone who would note even small amounts of my progress. Someone who would know when I wasn't sticking to my plan. Someone keeping me motivated and accountable.

There's just something about having a partner that makes doing the hard things easier. Many people resolve themselves (at this time of year) to get their personal finances in order. Just like most other resolutions it gets abandoned by February.

Change is hard. Perhaps if people had a partner helping them with their personal finance goals they would be more likely to stick to them. Someone to discuss strategies and techniques. Someone to note small amounts of progress. Someone to provide accountability.

One of my favorite things to do is to help other people reach their financial goals. If you would like to start to work towards yours this year, you should contact me. I will be your partner.

Disclaimer

Information in the Tax Blog is current as of the day it was posted. Tax laws change frequently, and it is likely that as time passes acts of Government will make some of the older blog content out of date.

The information provided is for education purposes only. It is general in nature and may not pertain to the Reader's situation. Every taxpayer's circumstances are unique. Reader's are urged to do some research or talk to a tax professional before acting on any of the information posted in this blog.

Paul D. Allen is a proud member of the National Association of Enrolled Agents, the National Association of Tax Professionals the Financial Planning Association of Hampton Roads, the National Association of Personal Financial Advisors (NAPFA), and The Tidewater Real Estate Investors Group. You can read more about Paul's background here.

NAEA proud member

Member Logo Color Small

FPAHR

 

 

Virginia Beach Tax Preparation Real Estate Discount2

Common Acronyms

ACTC - Additional Child Tax Credit

AGI - Adjusted Gross Income

AMT - Alternative Minimum Tax

APTC - Advanced Premium Tax Credit

AOC - American Opportunity Credit

CTC- Child Tax Credit

EIC - Earned Income Credit

HoH - Head of Household

LLC - Lifetime Learning Credit

MFJ - Married Filing Jointly

MFS - Married Filing Separately

MAGI - Modified Adjusted Gross Income

PIM - Plan of Intended Movement

PTC - Premium Tax Credit

QC - Qualifying Child

QHEE - Qualifying Higher Education Expenses

QR - Qualifying Relative

QW - Qualifying Widow(er)

 

Go to top